V&E Latest Bankruptcy Convert

Vinson & Elkins is the latest law firm to add bankruptcy lawyers, acquiring a five-lawyer boutique for its New York office.

The firm, Cronin & Vris, worked extensively with V&E on the bankruptcy on Enron Corp., the New York Law Journal reports. Founders of the New York boutique once worked for Wachtell, Lipton, Rosen & Katz.

Many big law firms are acquiring or beefing up bankruptcy practices, ABAJournal.com noted earlier this month.

Ann Israel, who heads a New York City legal recruiting firm, says bankruptcy has become a money maker for law firms. “This is a big, serious practice now,” she said. “This isn’t an embarrassment any longer.”